BD-Turkey can be trade gateways between Europe, South & SE Asia

Bangladesh and Turkey can serve as the gateway of trade and business between Europe and South and Southeast Asia, said Mahbubul Alam, president of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

"Bangladesh and Turkey offer huge untapped potential of trade and business," he said while addressing a visiting delegation from the Foreign Economic Relations Board of Turkiye and the Turkiye-Bangladesh Business Council today at the FBCCI headquarters in Dhaka.

He said Turkey has a unique geographic position, lying partly in Asia and partly in Europe, a bridge between the two continents.

Likewise, situated at the foothills of Himalayas, Bangladesh is also the gateway of regions like the Association of Southeast Asian Nations (Asean) and the South Asian Association for Regional Cooperation (Saarc), according to a press release.

"Thus, both Bangladesh and Turkey could serve as the gateway of trade and business between Europe and South & Southeast Asia," he said.

He said the relations between Turkey and Bangladesh are based on strong historical and cultural roots.

Both nations have expanded beyond traditional ties into a prosperous trade and investment partnership, he added.

In 2022-23 fiscal year, Bangladesh's exports to Turkey stood at $495.81 million and imports from Turkey stood at $380.3 million.

At present nearly 20 large Turkish companies are directly operating in Bangladesh in the areas of garments and textiles, accessories, chemicals, engineering, construction; and energy.

Also, over 100 Turkish companies have representatives in Bangladesh, according to the FBCCI.

Alam expressed optimism about future cooperation between the two countries in different areas such as pharmaceuticals, tourism, jute, and technology.

He called for the activation of trade promotional activities and proposed cooperation in developing high-tech products and tourism infrastructure.

Hidayet Onur Ozden, chairperson of the Turkiye-Bangladesh Business Council and leader of the delegation, said there are many opportunities to strengthen the bilateral trade between the two countries.

The trade and business ties between Bangladesh and Turkey are improving day by day and it is time to bolster the growth of economic prosperity of the two nations, he added.